Welltower Inc. (NYSE:WELL – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Tuesday, May 24th will be paid a dividend of 0.61 per share by the real estate investment trust on Tuesday, May 31st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, May 23rd.
Welltower has decreased its dividend payment by an average of 11.2% per year over the last three years. Welltower has a dividend payout ratio of 180.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Welltower to earn $4.02 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 60.7%.
WELL opened at $87.08 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.76. The company has a market cap of $39.53 billion, a price-to-earnings ratio of 111.64, a PEG ratio of 3.09 and a beta of 0.98. The company’s 50 day moving average is $93.27 and its 200 day moving average is $87.17. Welltower has a 12-month low of $71.00 and a 12-month high of $99.43.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its holdings in shares of Welltower by 8.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 1,530,652 shares of the real estate investment trust’s stock valued at $131,284,000 after purchasing an additional 113,183 shares during the period. California State Teachers Retirement System grew its holdings in Welltower by 3.1% during the fourth quarter. California State Teachers Retirement System now owns 757,709 shares of the real estate investment trust’s stock worth $64,989,000 after acquiring an additional 22,502 shares during the period. Stifel Financial Corp lifted its position in shares of Welltower by 2.3% in the fourth quarter. Stifel Financial Corp now owns 177,529 shares of the real estate investment trust’s stock valued at $15,226,000 after acquiring an additional 3,927 shares in the last quarter. Allstate Corp lifted its position in shares of Welltower by 406.2% in the fourth quarter. Allstate Corp now owns 37,551 shares of the real estate investment trust’s stock valued at $3,221,000 after acquiring an additional 30,133 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its position in Welltower by 2.8% during the fourth quarter. Vident Investment Advisory LLC now owns 32,898 shares of the real estate investment trust’s stock worth $2,821,000 after buying an additional 900 shares during the period. Institutional investors own 93.79% of the company’s stock.
Several equities analysts have weighed in on the stock. StockNews.com raised shares of Welltower from a “sell” rating to a “hold” rating in a report on Sunday, April 3rd. Royal Bank of Canada boosted their target price on shares of Welltower from $93.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, March 9th. Scotiabank raised shares of Welltower from a “sector perform” rating to a “sector outperform” rating and set a $110.00 target price on the stock in a report on Monday, April 4th. Zacks Investment Research downgraded shares of Welltower from a “hold” rating to a “sell” rating and set a $88.00 target price on the stock. in a report on Monday, February 21st. Finally, Mizuho boosted their target price on shares of Welltower from $94.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $96.75.
About Welltower (Get Rating)
Welltower Inc (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience.
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